Before collapsing in January, Britishvolt held multiple meetings with the government but was unable to access a promised £100 million public grant.
Before collapsing in January, Britishvolt held multiple meetings with the government but was unable to access a promised £100 million public grant.
Britishvolt, which owed approximately £160 million to unsecured creditors, is expected to provide only a minimal dividend from its insolvent estate.
Recharge Industries, an Australian battery manufacturer, has finalized its acquisition of the collapsed Britishvolt start-up. The company intends to fulfil the failed firm’s proposal to construct a £3.8bn gigafactory in
Teesside’s future lithium hydroxide plant could be a source of supply for Britishvolt, which is looking to save its £3.8bn North East gigafactory.
After Recharge purchases assets of a collapsed company, the UK gigafactory will be a reality.
Norwegian suitors show interest in a failed “gigafactory” company that is being sold.
A start-up based in Australia has offered to rescue Britishvolt, the failing electric battery manufacturer. Britishvolt went bankrupt this month.
Britishvolt was the maker of electric vehicle batteries. They have appointed administrators and made around 300 employees redundant.
Bloomberg reported that Glencore Plc has made a 40 million-pound ($54.2 Million) investment in Britishvolt Ltd. for the development of Britain’s first large-scale electric vehicle battery plant.
Manufacturer Britishvolt has announced that it has signed an MOU with the Welsh Government as both parties work together on plans to develop a commercially viable 30 GWh battery manufacturing